How we selected and hired a contractor

How we selected and hired a contractor

Once we officially purchased the Cavendish Cottage, the next step was to determine the scope of the project and have contractors bid on the work.  When you borrow hard money you will have to create a draw schedule showing the work that needs to be done and the approximate cost. But this is a very rough estimate and usually created after only seeing the home one time.

Madeline and I both have a contractor that we like working with and trust (this is the most important thing IMO) so we had each of them come out to the property to walk through, discuss the work and then later provide a written quote.  There were a few things that I learned in this process.  Next time I will provide a written list of the work to be done and ask the contractors to use that format when bidding on the work.  The most difficult part was taking two very different quote formats and trying to compare them to determine which would work best for us.  

In addition, I recommend asking the contractor to include all building materials in the quote.  What I mean by this is have them include, drywall, hardwood flooring, paint, durock etc.  If you are new to this business you will have no idea how to estimate those costs and it’s easier to let the contractor handle it.  That means you will be responsible for the items that must be selected by you including bathroom vanities, light fixtures, kitchen cabinets and counters, plumbing fixtures etc.

How did we ultimately choose our contractor?  One of the contractors included all of the materials in their original quote and was significantly less expensive than the other.  And, I am familiar with his work and knew he would do a great job for us.  So, in this case, it was a pretty easy decision for us.  

We are 90% finished with the work at this point and having a great contractor that we trust at the home has been invaluable.  He communicates with us consistently, letting us know what we need to be thinking about/ordering next.  We easily problem solve together and he is extremely experienced so he can handle most situations quickly and with decisiveness.  He’s also happy to help with picking up materials from Home Depot and Floor & Décor and other jobs not included in the quote like receive appliances and cabinet deliveries.  

If you’re thinking about flipping a home I recommend getting recommendations from people who have actually worked with the contractors you are considering.  If you have time, also have the contractor complete a project at your own home.  Madeline and I both have had these contractors work on our own homes so we had first-hand knowledge of the kind of work they do.

Next up – Getting Started!!